Bruce Krinsky Acquires Mixed-Use Asset At 1188 President St. In Crown Heights, Brooklyn For $2.65M
1188 President Street, Brooklyn, New York 11225, United States
$2,650,000
$486/SF
Building Size
5,450 SF
Asset Type
Mixed-use
Closing
Mar 6, 2022
AI
Located at 1188 President St. in Crown Heights, Brooklyn, this mixed-use property was recently sold in a transaction on 03/07/2022. The property spans approximately 5,450 square feet and boasts a sale price of $2,650,000, resulting in a price per square foot of $486. The buyer in this transaction was Bruce Krinsky, while Murray Saltzman acted as the seller. Sully Klein from Real Street represented both parties as the broker.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,650,000
- Address: 1188 President St., Crown Heights, Brooklyn
- Square Footage: 5,450
- Buyer: Bruce Krinsky
- Seller: Murray Saltzman
- Broker: Sully Klein - Real Street
This transaction highlights the successful collaboration between buyer Bruce Krinsky and seller Murray Saltzman. Sully Klein from Real Street played a crucial role as the broker, facilitating the deal between the parties involved.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.99%
Cash-on-Cash
-1.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93